DMA Diamedica Therapeutics

DiaMedica Inc. (TSX VENTURE:DMA), a biotechnology company developing novel
treatments for various stages of type 2 diabetes, is pleased to announce that it
has retained The Equicom Group Inc. to provide DiaMedica with strategic investor
relations and communication services.


Equicom provides investor relations to public companies in Canada and
specializes in the development and execution of tailored, strategic investor
communications programs. Equicom is a wholly-owned subsidiary of the TMX Group
Inc. and is headquartered in Toronto with offices in Montreal and Calgary. The
principals and representatives of Equicom hold no common shares of DiaMedica
either directly or indirectly.


Pursuant to the Agreement, Equicom will be responsible for designing and
implementing a customized investor relations strategy that clearly identifies
DiaMedica's market position and potential. Equicom will also provide the Company
with a number of other services including: ongoing capital markets counsel;
preparation of investor relations materials and content; coordination of capital
markets outreach with key members of the professional investment community;
development of retail broker relations; providing market feedback from investors
and coordination of basic media relations. Under the terms of the agreement,
DiaMedica will pay Equicom a monthly retainer fee of $5,000 for select strategic
investor relations and communication services. The initial contract term is 12
months and is effective June 2, 2009.


About DiaMedica

DiaMedica is focused on developing novel treatments for type 2 diabetes based on
a newly discovered 'nerve reflex' mechanism for which the Company has been
issued two U.S. patents. DiaMedica has completed a phase IIa clinical trial with
DM-71 which demonstrated the ability to reduce HbA1c (blood sugar) levels and
weight in humans. DiaMedica also completed a phase IIa trial with its second
compound, DM-83, designed to measure changes in insulin and glucose. The
Company's third drug in clinical development, DM-99, completed a phase IIa trial
in Q1 2009. Encouraging results from this exploratory clinical study displayed a
positive trend in blood glucose in type 2 diabetes patients after they consumed
a meal. Earlier preclinical results from Vanderbilt University indicated that
DM-99 is able to cause tissue to increase its uptake of sugar from the blood by
over 40% (p less than 0.001) during the first 60 minutes of treatment. The
Company is also working on DM-199, a 40x more biologically active version of
DM-99, along with other early stage development programs. DiaMedica has been
recognized as one of the Top Ten(TM) Life Science companies in Canada for the
past two years by the Ottawa Center for Research and Innovation.


About Equicom Group

Equicom, a wholly-owned subsidiary of TMX Group Inc., is a leading Canadian
provider of investor relations and strategic corporate communications services.
With proven expertise in developing and executing highly effective strategic
communications programs, and an extensive network of investment community
contacts, Equicom specializes in helping clients achieve their capital markets
objectives. Equicom offers a comprehensive suite of services including: investor
relations, media relations, annual report production, multimedia and web design,
web casting, live event management and corporate branding. Equicom is
headquartered in Toronto, with offices in Montreal and Calgary. For further
information, please visit www.equicomgroup.com


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.


Caution Regarding Forward-Looking Information

Certain statements contained in this press release constitute forward-looking
information within the meaning of applicable Canadian provincial securities
legislation (collectively, "forward-looking statements"). These forward-looking
statements relate to, among other things, our objectives, goals, targets,
strategies, intentions, plans, beliefs, estimates and outlook, including,
without limitation, our anticipated future operating results, and can, in some
cases, be identified by the use of words such as "believe," "anticipate,"
"expect," "intend," "plan," "will," "may" and other similar expressions. In
addition, any statements that refer to expectations, projections or other
characterizations of future events or circumstances are forward-looking
statements.


These statements reflect management's current beliefs and are based on
information currently available to management. Certain material factors or
assumptions are applied in making forward-looking statements, and actual results
may differ materially from those expressed or implied in such statements.
Important factors that could cause actual results to differ materially from
these expectations include, among other things: DiaMedica's early stage of
development, lack of product revenues and history of operating losses,
uncertainties related to clinical trials and product development, rapid
technological change, uncertainties related to forecasts, competition, potential
product liability, additional financing requirements and access to capital,
unproven markets, supply of raw materials, income tax matters, management of
growth, partnerships for development and commercialization of technology,
effects of insurers' willingness to pay for products, system failures,
dependence on key personnel, foreign currency risk, risks related to regulatory
matters and risks related to intellectual property and other risks detailed from
time to time in DiaMedica's filings with Canadian securities regulatory
authorities, as well as DiaMedica's ability to anticipate and manage the risks
associated with the foregoing. Additional information about these factors and
about the material factors or assumptions underlying such forward-looking
statements may be found in the body of this news release, as well as under the
heading "Risk Factors" contained in DiaMedica's final long-form prospectus dated
March 12, 2007. DiaMedica cautions that the foregoing list of important factors
that may affect future results is not exhaustive. When relying on DiaMedica's
forward-looking statements to make decisions with respect to DiaMedica,
investors and others should carefully consider the foregoing factors and other
uncertainties and potential events.


These risks and uncertainties should be considered carefully and prospective
investors should not place undue reliance on the forward-looking statements.
Although the forward-looking statements contained in this press release are
based upon what management believes to be reasonable assumptions, DiaMedica
cannot provide assurance that actual results will be consistent with these
forward-looking statements. DiaMedica undertakes no obligation to update or
revise any forward-looking statement.

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